Vietnam boosted rapeseed meal purchases from Ukraine

Monthly rapeseed meal exports from Ukraine are at a near-minimum level since November 2017, reports UkrAgroConsult. Ukraine exported 1 KMT of rape meal in March 2018 against 0.5 KMT in February 2018 and 1.2 KMT in March 2017. A total 64.5 KMT was supplied to foreign markets in July-March 2017/18, i.e. 16% less than at the same time a year ago (54.1 KMT).

The slowdown in rape meal exports has been persisting for a second straight season now, while the rapeseed volume shipped abroad during the first seven months of MY 2017/18 was already twice as large as in the whole of MY 2016/17. This immediately affected rapeseed crushing and, consequently, reduced export availabilities of rapeseed products, in particular rape meal.

The top importer of Ukrainian rape meal is the European Union, which absorbs 78% of total exports from Ukraine. The second largest importer is Israel (9%). After a pause in MY 2016/17, Turkey resumed rape meal purchases this season and already grasped third place in the ranking, with a 5% share. Vietnam stepped up rape meal purchases considerably, to 3 KMT against 1.6 KMT in the whole of MY 2016/17.

UkrAgroConsult notes that oilseed export revenues in Q1 2018 exceeded USD 434 Ml. According to the State Fiscal Service of Ukraine, sunseed exports in January-March 2018 totaled 8.356 KMT to an amount of USD 4.479 Ml, while sunseed imports were at 18.681 KMT to an amount of USD 183.275 Ml.

Traders exported 95.219 KMT of rapeseed to an amount of USD 41.368 Ml and imported 232 MT of the commodity valued at USD 1.009 Ml.

At the time, soybean exports totaled 1028.776 KMT to an amount of USD 388.473 Ml. The commodity’s imports were at 1.849 KMT to an amount of USD 1.779 Ml.

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting in the countries of Black Sea Region is available to subscribers for weekly market report"Black Sea Vegoils" by UkrAgroConsult.

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